U.S. Markets closed

Quasar Finalizes the Acquisition of A-Cent Aviation, Inc.

JACKSONVILLE, FL--(Marketwire - Nov 15, 2012) - Quasar Aerospace Industries, Inc. ( PINKSHEETS : QASP )

Quasar Aerospace Industries, Inc. is pleased to announce it has finalized the previously announced acquisition of A-Cent Aviation, Inc. located at the Colorado Springs Municipal airport in Colorado Springs, Colorado. A-Cent, a FAA Part 141 certified flight school, is now a wholly owned subsidiary of Quasar. 

A-Cent has been owned and operated as a family business at the same location since 2001. Quasar would like to extend its gratitude to the Hogan family for their continued contributions to the Colorado Springs flight school and allowing Quasar the opportunity to become part of something major in the aviation world. 

Since inception, one of the primary goals of Quasar's business plan was focused on becoming a FAA Part 141 certified flight school. This acquisition completes a large step in executing our business plan and allows Quasar to move forward with meeting the rapidly growing demand for trained commercial pilots both domestically and internationally. 

The closing of this acquisition further finalizes our partnership with Cessna. According to Cessna, "When you learn to fly from a Cessna Pilot Center, you are truly learning from the best. It's not just that you will be coached by the world's best-trained instructors or that you will gain knowledge with innovative computer-based instruction. What really matters is that you will be learning to fly in the world's greatest training aircraft: Cessna's forgiving, reliable single engine airplanes." A-Cent will continue to operate as a Cessna Pilot Center which provides a new web-based pilot training curriculum developed in conjunction with King Schools. The program is offered exclusively through the worldwide Cessna Pilot Center network.

The Cessna Pilot Center (CPC) network consists of approximate 20 international and 275 domestic affiliates, of which includes A-Cent Aviation, Inc. CPC has been the leader in flight training for 35 years, and Cessna's partnership with King Schools dates back more than 10 years. Since 2000, CPCs have delivered private and instrument pilot training to more than 100,000 pilots around the world. The sport pilot program has been available since the first Cessna SkyCatcher was delivered in the second half of 2009.

"We are excited to continue our partnership with Cessna as a Cessna Pilot Center which provides our flight schools with a state-of-the-art flight training program," said Donnell J. Vigil, President of Quasar. "An integral part of Quasar's long-term strategy is to become an industry leader for flight training. We believe offering this next generation web-based flight training program in conjunction with the delivery of the 2012 Cessna SkyCatcher creates an immense opportunity for us to expand into new markets and incorporate the latest technologies for delivering curriculum to our aviation students." 

A-Cent brings many more advantages to the current flight training program in place at Herlong airport in Jacksonville, Florida. A-Cent is a recognized leader in pilot training in the Colorado Springs area and will operate its satellite location from Jacksonville, Florida. 

A-Cent Colorado and Florida are already established as a Computer Assisted Testing Service (CATS) for FAA exams and Comira testing center for licensure, certification, assessment and education testing programs. This will continue to allow the flight schools to capture funds from pilots and other professionals throughout the North East Florida region and the Colorado Springs area.

A-Cent is certified to accept Veterans Administration funding for all of its secondary flight training programs. The Colorado Springs and Jacksonville areas are heavily populated by military members, both active duty and retired, that have access to VA funds for training and education. The ability to capture revenue from third parties, including the Veterans administration, is a significant step in the expansion of the flight school.

A-Cent remains in the SEVIS certification process required by the US State Department for training of foreign students. A-Cent has successfully passed the inspection process and is just awaiting final authorization.

We will continue to update our shareholders and the investment community as events unfold.

Quasar and its subsidiaries are involved in aviation and aviation related businesses. We are the only certified Cessna Pilot Center (http://www.cessna.com/learn-to-fly.html) in Jacksonville, FL. Through our subsidiaries we are an FAA Part 141 flight school (www.faa.gov), Computer Assisted Testing Service (CATS) (http://www.catstest.com) and a Comira testing facility (http://www.comiratesting.com). We offer flight training and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Our flight students also benefit from our onsite RedBird Full Motion Flight Simulator FMX1000 (http://www.redbirdflightsimulations.com).

Check us out on our web site (www.quasaraero.com) and Facebook at: https://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747 or look to schedule a student pilot experience flight through Groupon (www.groupon.com) or Living Social (www.livingsocial.com).

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Quasar Aerospace Industries, Inc. under take no obligation to update such statements.